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Multinational Influences On New South Wales Businesses

545 Words3 Pages

Businesses in New South Wales face a multitude of contemporary issues never experienced in previous times. This is an issue within itself as many businesses, especially small businesses, are effectively in the dark on how to overcome these issues successfully as their are essentially no case studies to mirror. Listed below are examples by no means exhaustive on contemporary issues plaguing NSW businesses Multinational Influences on New South Wales Businesses New South Wales businesses face competition from multinational competitors with extensive reserves from operations in other countries. The rising prominence of Australia as an income-rich country has invoked interest from a myriad of overseas businesses looking to establish market share in relevant sectors. In the supermarket chains, German multinational Aldi and American bulk wholesaler Costco have shown increasing favorability in families looking to stretch their incomes further. These low cost, bulk buying businesses are threatening the major established supermarkets. In the Fashion industry, former market dominators David Jones and Myer are now in competition with multinational companies including Spanish owned Zara, Swedish H&M, and the United Kingdom’s Topshop/man franchises. New South Wales businesses must innovate operations to regain dominance in their relevant sectors in order to compete against the rise of multinational business operation in Australia. …show more content…

This not only affects the agricultural industry, but all tertiary businesses in these regions. With less disposable income of the local populace, local businesses have seen a decrease in trade at their businesses. This is especially noticeable in the far west region, where once bustling main streets now lay

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